3 Minute Gold News
A Quick Read for Busy People
A synopsis of a Collide event with Jim Rickards, New York Times bestselling author of The New Case for Gold, The Death of Money, Currency Wars and The Road to Ruin, published Jan. 18, 2018.
Jim is the Editor of Strategic Intelligence, Chief Global Strategist for Meraglim Inc., former general counsel for Long Term Capital Management, and a consultant to the U.S. Intelligence community and U.S. Department of Defense.
by: Elaine Diane Taylor
Topics:
Bitcoin and Blockchain Tech
Gold
Jim Rickards
Collide link
BITCOIN AND BLOCKCHAIN TECH
Jim’s overall view is that the blockchain is here to stay but Bitcoin and most current cryptocurrencies are not.
The technology is now in place to overcome some of the problems with Bitcoin and other cryptocurrencies.
There are issues with the design, processing power, proof of work, slowness and clunkiness of bitcoin. (Not to mention the fees and delays to process payments. – edt) One of the problems, for example, is if 51% of the miners get together to create a block that steals all the Bitcoin in the world, and they validate it, then they’ve just stolen all the bitcoin in the world and you’re out of luck.
Keep in mind that every contract you put on blockchain has its own blockchain, with different technology and governance.
It’s like a chain of title. For example, your house has a deed in the town clerk’s office. Someone else also has a deed there for their house, and their house has a different chain of title than yours.
Anything can be on a blockchain.
It could be stocks, bonds or real estate deeds for example. A blockchain is a ledger. It’s a distributed ledger. It’s a digital ledger. It’s just a record keeping device.
But the fact that cryptocurrencies use different kinds of technology and different types of governance is very important.
This is what’s going to separate the winners from the losers.
These issues are now being thought through.
GOLD
Gold went up to $1,340 U.S per ounce last Monday, and has now backed off a bit to $1,330.
Gold is up from the beginning of this year and up strongly since the last Federal Reserve interest rate hike in December 2017.
We’re in the early years of a bull market for gold.
This bull market started in December 2015 when gold hit the bottom of the last bear market, which went from 2011 to 2015.
Gold was up in 2016 and up in 2017.
It’s up so far in 2018 and Jim expects it to continue to increase for years. He expects it to make 700 – 800% profits as it makes its way up to $10,000 per ounce. Not all at once. The bull market will probably run for another three or four years.
Jim Rickards can be found on Twitter and at James Rickards Project.
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Gold is at $1,330.60 U.S. per ounce.
I stepped away from blogging for a bit. The crypto world, especially bitcoin, went crazy.
People on Twitter and in real life became intense and angry with each other, and with the gold world.
I’m not into engaging in that kind of debate. I don’t like irrational fights that start name calling for no reason. It seems so small and unnecessary.
I have gurus. I have gold gurus and crypto gurus. I have physics gurus and artist gurus. A new one is T.S. Eliot. Another is Oliver Heavyside and how he ties in with Nikola Tesla.
New tech has a cycle just like all systems.
I look at overall patterns, like the rise and fall of empires, the use of gold in that cycle, the imbalance of power in civilizations when they fall and rebuild, and how an individual can live a peaceful and happy life when they happen to be born in the crossover.
Like now.
I’ve seen propaganda first hand, and lost all that didn’t matter and then gained everything that does. I’ve seen all this before. Including the anger and some meanness.
The fight between bitcoin and gold is like that: everything that doesn’t matter.
I’ve flown home to Vancouver to be with family, to record some music I’ve been working on, and hang out at the Vancouver International Resource Conference. My friends and gurus, including Jim Rickards, David Morgan and others will be there.
I’ll take some notes and make up some blogs for you in case you can’t make it. I’m writing songs about what’s going on, including Slow It All Down.
The gold panel at the #VRIC2018 moderated by Daniela Cambone of Kitco is going to be fun.
And … of course … there will be a bitcoin debate.
All is well,
Elaine Diane Taylor~
January 20, 2018
Raw gold flakes and small nuggets direct from the wild rivers along the Gold Rush Trail in British Columbia, Canada. I’ve visited the rivers and traveled the Trail. The independent miners are fair paid spot and all gold is ethically sourced. Two grams encased in boro silicate hand torched glass in my studio. My branding and packaging is being created by Porchlight Press in Vancouver right now. Very fun. Looking forward to the finished product. Soon. So soon.
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A Terrible Breeze (North Korea and Nuclear War)
The news comes down
A little bluebird sings
Words of war
Of fire and furious things
Of testing might
‘Til no patience knows
If keeping still
Still keeps you safe at home
It’s a terrible breeze
They speak of today
Of threats that used to live a world away
We all know wind
Can blow both ways
And a terrible breeze can blow it all away
A worldwide net
Sees our village grow
Until we all forget
What each one used to know
How a blind bird’s wings
Can reach the shore
And turn that wheel of peace and war
Village fools sinking down, down, down
Debt and gold wound in numbered shrouds
Deal of a life it’s bread and clowns
Can we afford another go around?
The news comes down.
It’s a terrible breeze. The news comes down.
words and music Elaine Diane Taylor
©2017 Elaine Art & Media SOCAN/ASCAP
Single available on iTunes
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Not Much of a Holiday (Greek Debt and Media Persuasion)
words and music Elaine Diane Taylor
© 2015 Intelligentsia Media, Inc. All rights reserved.
SOCAN/ASCAP
Single available on iTunes
The Greek bank holiday and long lines to get a few euros for the day. Debt deals behind closed doors. The media telling us what opinions to have. China building islands in the South China Sea and claiming all the international waves. More dealing to come. More standing in line for those who owe. Who owes? There’s a long line of nations in debt and this is far from done.
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Preparing for the Fall live boutique album available on iTunes — featuring Wag the Dog, Black Swan Dive, American Pie and Gods of the Copybook Headings.
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Coins and Crowns
words and music Elaine Diane Taylor
© Intelligentsia Media Inc. All rights reserved.
SOCAN/ASCAP
from the album Coins and Crowns available on iTunes
Single featured in Episode 1 of Mike Maloney’s documentary series Hidden Secrets of Money.
The Gods of the Copybook Headings
words by Rudyard Kipling and music by Elaine Diane Taylor
©2014 Intelligentsia Media Inc.
SOCAN/ASCAP
from the album Preparing for the Fall available on iTunes
The copybooks of the early 1900s gave us all the wisdom we need. The sayings that were copied are the truths, the gods, of our world. All the empires who followed the gods of the marketplace instead have fallen, and there’s terror and slaughter when the gods of the copybook headings return. The lyrics are by Rudyard Kipling. One of my gurus.
Another Week on Wall Street
words and music Elaine Diane Taylor
© 2013 Intelligentsia Media Inc. All rights reserved.
SOCAN/ASCAP
from the album Coins and Crowns available on iTunes
See the bankers wave their Wall Street wands and conjure piles of paper green. Naked short selling is like betting that your neighbour’s house will burn down. But in this scenario it happens to burn down. If the bankers win then we lose the whole world as we know it. I wrote this in 2009, with a lyric “A little grease (Greece) is floating out to sea, and little pigs (Portugal, Italy, Greece and Spain) are bobbing up and down, they’ll send a storm and we’ll see, when the tide goes out who’s naked on the beach“, and it’s coming on now. The world is changing as we know it.
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Elaine Diane Taylor 